Gambling losses not deductible as business expenses

website can you claim lottery losses on taxes For tax year 2019 and after, gambling losses are allowed as an itemized deduction to the extent of gambling winnings Am I required to make estimated tax canada lottery winnings tax You are allowed to deduct gambling losses in order to lower the amount of tax you pay on gambling winnings However, the loss deductions cannot

can you claim lottery losses on taxes And, If you are a professional gambler, you may be able to claim gambling losses and deductions on your tax returns, and minimize your income — but this was  Generally, you cannot deduct gambling losses that are more than your winnings We do not tax California Lottery or Mega millions Visit  No expenses attributable to gambling and lottery income are deductible Expenses such as: parking, postage, entry fees, meals and lodging or travel may not be

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